A new condominium development in Oak Park is turning the condo market on its head and offering high-end design the likes of which Oak Park has not seen before. In a village long lauded for its significant single family homes, the local condominium market has not always shared the vibrancy of that market. All that changes with the new five story development of District House at the corner of Euclid Avenue and Lake Street.
Cory Robertson of Ranquist Development notes that the condominium market in Oak Park has not kept pace with the single family home market for some time. “The single family home market in Oak Park is quite mature. Approximately 50% of the single-family housing stock in Oak Park is over $600,000 in value. Until this year, however, there have been almost no condos available over $400,000. The condo market until now has catered almost exclusively to first time buyers or those seeking vintage fixer-uppers.”
District House units will offer the space and amenities that many home buyers have come to expect in their homes. The LEED certified building, designed in a collaboration between architects Miller Hull and Northworks, includes four residential floors of three bedroom plus den units, each boasting ten to twelve foot ceilings, contemporary flat panel cabinetry and appliances by Bosch and Fisher & Paykel. For buyers looking for a bit of the outdoors, the building plans include large outdoor green spaces and green roof terrace.
Ranquist principal Zev Salomon says of the 1,700 to 2,000 square foot units, “We see these as an option for people who don’t want the big house anymore but want to stay in Oak Park.”
From city-dwellers looking to move to the suburbs to single family home owners looking to downsize and stay in the community to families looking for a bit more space, the design and the location will appeal to a wide range of buyers.
For some professionals with deep roots in the community the timing might be right to sell the large family home. A high-end condominium development offers the ability to host Thanksgiving and offer spare bedrooms to kids home from college without the maintenance of a large house and yard. For city dwellers, the appeal is in the great location and competitive pricing. District House units offer three bedrooms, two baths and a parking space per unit in walking distance to trains, schools, the farmer’s market, shops and restaurants: urban amenities without the Chicago price tag.
District House will offer room to spread out and top-notch design all in one of Oak Park’s most central locations. According to Robertson, the location is key. “This location is important to all potential buyers. There is a sense of community here and access to all things that make Oak Park great. It really is the best location in the village.”